Holiday Inn 2006 Annual Report Download - page 80

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Notes to the Group financial statements
24 Share-based payments (continued)
Movements in the awards and options outstanding under the schemes are as follows:
Short Term Deferred Performance Restricted
Incentive Plan Share Plan
Number of shares Number of shares
thousands thousands
Outstanding at 1 January 2005 241 7,735
Granted 625 5,174
Vested (32) (1,278)
Lapsed or cancelled (5) (997)
Outstanding at 31 December 2005 829 10,634
Granted 569 4,277
Vested (328) (1,395)
Lapsed or cancelled (69) (2,191)
Outstanding at 31 December 2006 1,001 11,325
Fair value of awards granted during the period
At 31 December 2006 894.5p 287.0p
At 31 December 2005 649.1p 117.0p
Weighted average remaining contract life (years)
At 31 December 2006 1.0 1.3
At 31 December 2005 1.1 1.2
The above awards do not vest until the performance conditions have been met.
Sharesave Plan Executive Share Option Plan
Weighted Weighted
Number Range of average Number Range of average
of shares option prices option price of shares option prices option price
thousands pence pence thousands pence pence
Options outstanding at 1 January 2005 1,262 420.5 420.5 26,741 308.5-593.3 447.6
Granted – – – 2,105 619.8 619.8
Exercised (118) 420.5 420.5 (4,138) 308.5-593.3 429.1
Lapsed or cancelled (280) 420.5 420.5 (2,089) 345.6-619.8 465.3
Options outstanding at 31 December 2005 864 420.5 420.5 22,619 308.5-619.8 465.4
Exercised (389) 420.5 420.5 (8,365) 308.5-619.8 438.7
Lapsed or cancelled (310) 420.5 420.5 (175) 345.6-619.8 404.6
Options outstanding at 31 December 2006 165 420.5 420.5 14,079 308.5-619.8 482.2
Options exercisable
At 31 December 2006 – – – 6,002 308.5-619.8 430.2
At 31 December 2005 – – – 8,710 308.5-619.8 434.3
Fair value of options granted during the period
At 31 December 2005 – 164.0p
Included within the options outstanding of the Executive Share Option Plan are options over 4,055,674 (2005 7,909,002; 2004 12,568,562) shares that have not been
recognised in accordance with IFRS 2 as the options were granted on or before 7 November 2002. These options have not been subsequently modified and therefore
do not need to be accounted for in accordance with IFRS 2.
The weighted average share price at the date of exercise for share options vested during the year was 969.4p. The closing share price
on 29 December 2006 was 1262.0p and the range during the year was 806.7p to 1265.0p per share.
78 IHG Annual report and financial statements 2006